10 Questions To Help You Choose The Right Single-Family Home in Orange County

If you want to invest in Orange County real estate, one of the best options would be to invest in a single-family home. But how do you know when you have found the right one? We can help you find the right Orange County house using the 10 questions below!

Question 1: What are your long and short-term goals for the property?

People invest in Orange County real estate with very different goals in mind. As such, it is important that you are investing in properties that get you to where you want to be. Do you want to make 40k in the first year? If so, and if you can handle some hard work, flipping might be a better choice than a rental property. However, if you are looking for a long-term, stable source of income, the rental property might be the way to go.

Question 2: How much can you really afford?

Buying a house is more than simply coming up with the down payment and the monthly mortgage payment. There are numerous other costs that come into play when you own a Orange County house. Before making any property investment, make sure you understand what it will entail. Utilities, monthly maintenance costs, property taxes, and insurance costs all might be a bit different than what you are used to.

Question 3: Will this be your primary residence or an investment property?

Or maybe both? One strategy new investors use is to purchase a home for their own needs, with the intent of renting it out in a couple years. Other investors might choose to purchase a multi-family property using an FHA loan. As long as there are four units or less, you can live in the property while making a profit from the rent amounts others are pay.

Question 4: How will you pay for the house?

Many investors buy houses in cash. Getting a loan for an investment property usually isn’t very easy. This is why many investors choose to start with a small property, slowly working their way up to larger and more expensive properties. Another option would be to work with a partner on the deal. This will allow you to invest in a more expensive property than you would have been able to on your own.

Question 5: How much do you need to borrow?

Once you know how much the house will really cost you each month, you can also factor in the upgrade and repair costs. There are some loans that will allow you to include repairs into the amount you are borrowing. If you are taking out a loan, make sure you have discussed your plans with an accountant or financial planner to ensure you can really afford what you are trying to do. For many people, buying a house in cash can be a safer route.

Question 6: Who will your tenants be?

Do you want to purchase a buy to rent property in the Orange County area? This can be an excellent way to create income and build equity. Think about where you are buying and what kind of tenants are actively looking for rentals. Many investors won’t waste their time on a property in a bad neighborhood, even if they are getting a great deal. Always keep in mind who would want to rent your house. Even if you aren’t renting it out right now, you might change your mind down the road.

Question 7: What would your cap-rate look like?

Defining your cap-rate is critical in real estate investment. Determining this number will help you determine if an investment is actually lucrative. To calculate your cap-rate, you simply take the net operating income and divide by the purchase price. The higher your cap rate, the better the profits, however, this often comes with additional risk. There are many other things to consider other than cap-rate, however, using this to compare properties can be tremendously helpful when investing in a single-family home in Orange County.

Question 8: What is the neighborhood like?

Most investors will stay away from bad neighbors, even if they find a great deal. Unless you are certain you are buying in an up and coming area, a bad neighborhood is simply too risky. You will likely not attract the high-quality, long-term tenants you are looking for. You will also have to worry about vacancies, low rents, and theft.

Question 9: What are your must-haves and have-nots?

When buying an property, you should write out the things you must have, would like, and absolutly can’t have. Stand strong and stick to your list. You don’t want to compromise on things that are important to you. Making this list will help you buy with less emotion.

Question 10: Will it likely resell easily?

With every investment, you need to have a good strategy. Will you be able to liquidate the property quickly if need be? If there comes a time when you need to sell, you don’t want to find yourself stuck with an unwanted property.

Are you ready to buy a single-family house in Orange County? Whether you are looking for an investment or a full-time residence, call us before calling an agent! Find out how buying direct can save you money! Send us a message or give us a call today! 949-625-4533 



Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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